Page 3 Advertisements Column 2

Wairarapa Daily Times, Volume XII, Issue 4007, 8 January 1892, Page 3

PROSPECTUS WAIOTAPU OIL AND MINERAL COMPANY (Limited), To bo Registered under tho Company's Act, 1882, and its Amendments. Capital ... ... ... £IOO,OOO • (With power to Increase) In 100,000 shares of £1 each, of which 60,000 fully paid up shares will be allotted to the vendors, The balance of 50,000 aro now offered to the public on the following terras—viz,, 2s Gd per share on application, 2s 6d persharo on allotment, 2s fid por sharo m three months, and 2s (Id per share in six months, and the balanco.in calls, or as much as may be required, nut exceeding 2s 6d per share, to be made at intervals of not less than three months. Director!,': To be appointed at tho First Meeting of Shareholders. Bakkkhs : B:\iik of Australasia, Napier, Brokers ; Napier-BAKER & TABUTEAH. Wbiurotok-lAERY&CO. Auckund-FRATERBROS. Dunedin-lU.SCOI'T, Rotokoa-D. GRIFFITHS, Solicitors : Napier, Now Zealand, Sainsbury & Logan. Melbourne, Austin Raker, Secretary - (pro tern.) F, B. Scott, Waiotapu, Rotorua, rjlHlS Company is formed for the X purposo of acquiring from the owners all benefits whatsoover and all rights unier certain deeds of lease from tho Crown which aro being granted by tho Crown to certain of the Vendora, comprising in all an area, of 240 acres, situated in the Waiotacu Valley, near Rotorua, New Zealand, and for the purpose of working Petroleum, Oil, and the various Blincrals, Hematites, Acids, Oreß and Clays, which are found on tho property to bo comprised in such leases. The survey of the lands has recently been completed under directions front the Survey Office, and'tho leases will be prepared and issued at once,. Before the Memormdum and Articles of Association aro registered tho leases from the. Crown will be open for inspection at tho office of the Company's Solicitors at Narier. Tho torms of purchase arc as follows ; -The vendors shall rccoive £IO,OOO in cash and shall have alloticdto thorn 50,000 fully paid up shares to tho Com- ' pany. An agreement embodying the terms ofthesalo and purchase will be incorporated with and form part of tho Memorandum and Artiolesof Association of the Company. Tho yendors aro-Colin Ross, runholder, Melbourne; lidward Douglas, settler, Tauvanga; Donald Boas, station manager, Strathmoro; F. Logan, solicitor, .Napier; W. Fawkncr, gentleman, Napier; Francis Bernard Scott, gentleman, Wniotapn; J. C. Rankin, runholder, Strathmore; who guarantee that all monies will bo returned in tho event of the Company not being floated, PROSPECTS.

Petroleum of a very fine quality haa been found in a number of places, and the ground, in many portions of tho Company's lease, is fairly saturated with it; in the creeks also it is to bo seen flowing freely, clearly showing that wells of this rock Oil exist somowhere in this locality, and hayo been minding and running to waste for years hack. It is anticipated that when proper appliances are brought to bear for boring, Oil will be reached at no great depth. Being in the region of tharninl action, tends also to favour the opinion of a great Petroleum source being situated in this locality—as in Russia it is found in its greatest state of purity and quantity in the region of active volcanic centresarid in Walotapu the oil actually undergoes a process of distillation in coming to tho surface on account of this thermal action and its mixing freely with Sulphuric Acid, Valuable clays and hematitos are to be found in large quantities, also iron ores, oxides, and many other valuable ores and pigments-all of which will find a ready market. Thenroa for operations consists of the most valuablo portion ot the famous sight-seoing Waiotapu Valley, and it is situated about 20 miles from Rotorua. The property is approached from Eotorua by a main line of road leading to Stratlimore, Wairakci, and Taupo, and another branch lino to Uslatoa, which' latter forms the eastern boundary. It is also well watered by the Waikokomuku, a large fresh water stream, and.the Hak\ti« kite, a hot water creek, which ruiiß right through the land comprised in the lease. Many valuable hot mineral baths with strong curative properties exist on the ground.

Samples of tho various minerals are open for inspection at tho offices of Messrs Laery and Co., Willis street. REMARKS FROM VARIOUS AUTHORITIES, Analysis by Dr Hector, New Zealand Geo, Survey Laboratory. " This is good Petroleum—its spooitin gravity is 'BO4, and it yields good commercial kerosene.' 1 (Signed) J, Hector. From Gerhard Mueller, Esq., Commissioner Crown Lands. " I have been surprised beyond measure to see tho exudations of Petroloum at so many places in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts." 6.0. McAuley, Esq., Rotorua, 19t!i November, 18P1. " I was shown over only a small portion of the ground, and in all places found Oil flowing freely-even in the bottom of tho stream—the eartli is also full of Oil. I consider the prospect is an excellent one. Tho numerous and varied, coloured earths aro also very valuable." P. B. Scott, Esq., Auckland, November, 1891. " I have resided in the locality of the Waiotapu Petroleum Springs for tho lastfeur years, and haye had every opportunity of calmly considering the probability of a reservoir existing in that locality, Throughout all this company's ground, oil is to be got on the.surfaco, a few feot below it; and also in the bed ot tho creek.' Hundreds of gallons must have been finding their way down this stream weekly. 1 consider the very fact of the ground being so'inuch disturbed by yojeanic acencies,. is very favourable to the supposition of subterranean cay« orns existing capable of containing large reservoirs of oil, which are often deficient in regular sandstone formation, Apart from tho petroleum, the value of this property is greatly enhanced by the ititoresting variety of hematites, acids and clays, which are found to putmoate tho whole formation. A compound which might be termed paraffin butter is also found in quantities. This is a curious substance, and is very useful and effective as an anti-friction grease. Tho petroleum in its crude state makes an excellent salvo, and is largely used by tho natives tor hone sores, scalds, and wounds. NEWSPAPER EXTRACTS. Hot Lakes Chronicle, Jttotorua, 23111 Oct., 188;. "Tho important)p of thjs find prompted U3 to take an interest in the matter by seeing for ourselves what the prospects really are. With this view we paid a visjt to the Valley, The Oil is seon floating down a creek, and as we Walked along our footsteps caused a more norceptjble flow. Tho Oil is not confined to tho creek alone,-but somo distance away it is also found; in fact tho tround is perfectly saturated with it Tho indications of Oil arepreoiselyaimilar to tlioso found at Oil Creek, Pennsylvania, in 1860, when nioro than a thousand wells were bored from 600 to COO feet deep, and in 1809 many of the wells yielded regularly 300 barrels. per day. Wo mention thjs to show'tlialit is possible, aud indee.l probable, that the Waiotapu find may be" of tile utmost iuiporfnrico'to New Zeala'iif).'' Tjfojjro sheets are undoubtedly good and eyery: tjiing is beip? done to make the venture a success, Ac, &c, &o. from the N.Z. Herald, Auckland, November. " Many person have visited the Waiotapu Oil and Mineral Company's ground during the past wcok, and a good many of those who Ifavobeen hitherto increduloirs, Mr Scott allowed' them to. dig for